Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1887-05-25
CoNsIDERJNG CONSOLIDATION.

Bv arrangement, the Directors of the
Georgia and Carolina Midland Railroad,
which was first chartered as the Augusta,
Edgeield and Newberry, and representa-
tives of the Charleston, Cincinnati and Chi
cago Railroad, was held in Columbia last
Wednesday night, the object in view being
the discussio. of the consolidation OF the
former with the latter road.
The Charleston, Cincinnati and Chicago
Railroad was represented by Senator M.
G. Butler, one of the directors, and Col.
r. A. johnson the General Manager OF the
Massachusetts and Southern Construction
Company.
The Georgia and Carolina Midland was
represented by President R. NJ. Mitchell,
of Augusta, R. l.. Mclaughlin n e.. Il.
Suber, of Newberry, Senator VIM. Munro,
of Union, Senator John G.. Black, of York,
a committee of the directors, with Major
w. T. Gary, of Augusta, as counsel;
l o'clock Thursday morning, when an ad-
iournment was made until 10 o'clock.
The representatives of the Charleston
Cincinnati and Chicago presented to the
committee ofdirectors of the Midland their
proposition for the consolidation and the
effects thereof and the advantages claimed
were fully set forth.
Mr.. &c. Jeffries, of Gaffney City, APP
peared before the committee IN behalf OF
his town, which asks to be taken into con.
sideration as a proper place to be touched
by the Georgia and Carolina Midland
whether completed by its original project
ors or by any company with which it coa-
solidates.
No definite decision was reached on
Wednesday night and the matter was fur
Their discussed and finally acted on at the
meeting on Thursday morning, when the
following arrangement was c~oncluded:
Resolved, That we the undersigned, a com
mittee of Directors appointed at Il meeting OF
the Directors of the Georgia and Carolina Mid
land Railroad Company, held at Newberry on
the 4th of May, 1887, for the purpose of con-
ferring with the authorities of the Charleston,
Cincinnati and Chicago Railroad Company, III
regard to a proposed consolidation or the SAID
Georgia and Carolina Midland Company, here
by agree to recommend to the Board or the
Georgia and Carolina Midland Railroad Com
pany at a meeting to be called for that purpose,
that a consolidation be effected with the said
Charleston, Cincinnati and Chicago Railroad
Company in the manner prescribed by the
General Statutes Of South Carolina, and with
the following conditions TO be set forth in The
agreement for consolidation: .
/. That the said Charleston, Cincinnati and
Chicago Railroad Company, within sixty days
after the agreement of the consolidation is made,
shall begin the construction of said road, and
bv continuous work, in good faith, and within
three years shall complete the road, with track
laid, equip and operate a railroad of standard
gauge from Augusta, Ga, by way OF Edgeheld,
Newberry and Union by the most practicable
route, and to connect with the tracks OF the
Charleston, Cincinnati and Chicago Railroad
Company at some point.
2. After the ratification of these articles OF
agreement and before the articles of agreement
for the consideration shall have effect, the
Charleston, Cincinnati and Chicago Railroad
Company shall paw all the then existing legiti-
mate debts of the Georgia and Carolina Mid
land Railroad Company, the said Indebtedness
to be ascertained by an examination and in
spection of the books and vouchers OF sad
company to be approved by the Board OF Dl-
rectors of the Georgia and Carolina Midland
Railroad Company.
3. That the township bonds of Union county,
voted in aid of the Union, Gatfney City and
Rutherfordton Railroad Company and Atlantic
and Northwestern Railroad Company, now be-
longing to the Georgia and Carolina Midland
Company, and now in the hands of E. X. Wal,
lace, Trustee, shall be delivered to the said
Charleston, Cincinnati and Chicago Railroad
Company upon the presentation of a certificate
of the Chief Engineer of the Charleston, Gin
cinnati and Chicago Railroad Company, to be
countersigned by one of the Board OF County
Commissioners of the said County, that the
terms and conditions of the subscription have
been complied with by the said Charleston,
Cincinnati and Chicago Railroad Company.
4. The shares Of the capital stock of the
Georgia and Carolina Midland Railroad Com
pany being each of the par value of S25 and
those of the Charleston, Cincinnati and Chicago
Railroad being 500 each, the same shall be
consolidated upon that basis and in that pro-
portion.
Representatives of the two roads to be
consolidated, o after the conclusion OF
the conference, expressed themselves as
pleased and satisfied at the results attained,
and to the effect that the agreement would
at the proper time be ratified and carried
out successfully.
The Columbia Register, from which we
derive the above information, says in re-
gard to the proposed consolidation: